a.You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly payment plan at 18%. How much monthly installment will be offered by bank? b.Suppose you are...

a.You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly payment plan at 18%. How much monthly installment will be offered by bank?

b.Suppose you are planning to take this car through bank loan but you already have saving of Rs.150,000 which you paid to bank as down payment and rest you are agree on monthly installment at 18%. Compute monthly payment?

Q no.1) a and b assuming bank is following annuity due condition.